Slaughter and May is advising Premier Oil on the proposed acquisition of E.ON's UK North Sea oil and gas assets for a net consideration of US$120 million plus working capital adjustments

The assets being acquired are located in the Central North Sea, West of Shetlands and the Southern Gas Basin and will add approximately 15kboepd of net production to Premier in 2016.
 
The acquisition, which was announced on 13 January 2016, is subject to various conditions including approval from Premier's shareholders and consent from its finance providers.